The global biotechnology market is mainly driven by the surge in the demand for food, depleting natural resources, government regulatory support, and technological advancements of various solutions to counter fatal diseases. The advent of stem cell technology, nanotechnology, and cloning has also propelled this market substantially and is expected to continue aiding to this market in the years to come. However, the dearth of awareness among consumers regarding biotech products and the long duration between research and commercial production of these products may act as a restraint to this market over the next few years.
